The objectives of the province in 2001-2005 were to develop the processing of agricultural-forestry products and minerals, upgrade industrial complexes, establish small industries close to resources zones, promote non-State industries and handicraft. The province has overcome the constraints of a poor province and low standards of education and skills and recorded fine achievements in economic development, especially in industry.
In 2001-2005, the GDP growth rate has been 9.6 per cent including 13.9 per cent in industry-construction (28 per cent of GDP). The growth rate of industrial value is 14.8 percent. In 2005, the industrial value is VND1, 100 billion (double that of 2000) including 67 percent in the processing sector, 20 percent in power and water supply, and 13 percent in minerals.
Some important minerals are refined Kaolin (17,000 tonnes), graphite (1,000 tonnes), quartz powder (3,600 tonnes), felsate powder (140,000 tonnes) calcaire grain (100,000 tonnes), calcaire powder (182,000 tonnes), iron ore (100,000 tonnes).
For the processing sector, in 2005, the province produced 13,000 tonnes of tea, 17,000 tonnes of cassava flour, 210 million pairs of wooden chopsticks for export, 1,500 cubic metres of timber, 23,500 tonnes of De paper for export, 3,800 tonnes of insulator porcelain, 150,000 tonnes of cement, 95 million bricks, etc. The export value posts US$18 million including US$8 million from direct export.
The investment in industrial development in 2001-2005 was VND1, 267 billion, 22.7 percent of the total investment. In 2003-2005, several projects have been completed and started operating. The investment in mineral processing was VND150, 942 million (11 percent), agriculture-forestry processing VND527, 159 million (41.5 per cent), power and water supply VND589, 606 million (47.5 per cent).
New investment has increased the production capacity. The production of De paper has 17 new production lines. Tea processing has increased from 300 to 600 tonnes a day. Two new cassava production lines produce 36,000 tonnes of cassava flour a year. A new factory produces 10,000 cubic metres of timber a year, a mill produces 16.500 tonnes of animal feed a year, etc. The number of industrial establishments increased from 4,574 to 6,522, with non-State enterprises increasing from 1,950 to 6,496. The processing industry has helped reduce the sales of raw materials outside the province.
Technology has been upgraded. New projects imported complete equipment from
In general, the industrial sector of Yen Bai has continued its stable development and achieved its objectives. In 2006-2010, it must be a spearheaded sector to develop the economy and make Yen Bai a prosperous province in the region.